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在线翻译:
szdaily -> Markets
Facial recognition startup Face++ raises US$460m
    2017-November-2  08:53    Shenzhen Daily

CHINA’S biggest facial recognition firm Megvii Inc., more commonly known as Face++, has raised US$460 million in a fresh round of financing, drawing investment from a Chinese State fund, Ant Financial and Foxconn Technology, said a source with direct knowledge on the fundraising.

A previous round of financing last December valued Face++, a Beijing-based startup behind Alipay’s “scan your face to pay” function, at US$2 billion.

Face++ provides face-scanning systems to companies including Lenovo Group Ltd. and Ant Financial. The firm’s software uses facial scans held in a Ministry of Public Security database drawn from legal identification files on about 1.3 billion Chinese.

The latest fundraising was led by the China State-owned Venture Capital Fund and existing investors Alibaba Group Holding Ltd. affiliate Ant Financial and Foxconn.

Russia-China Investment Fund, a joint venture of sovereign wealth funds, and South Korea’s SK Group are also among the investors, said the source, who declined to be named.

The Chinese national venture capital fund is a 200 billion yuan (US$30.17 billion) State-controlled fund set up last year to invest in China’s startups.

The fund could not be reached for comment outside office hours. Ant Financial and Foxconn did not immediately respond to requests for comment.

The fundraising at Face++ comes as facial recognition startups boom in China on keen demand from the government and private companies.

Rival Sensetime Group raised US$410 million in July from Chinese investors, which it said then was the largest single financing round for any artificial intelligence company. (SD-Agencies)

 

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